The 5 Year Forecast shows a positive fund balance throughout the remaining years, up to and including fiscal year 2024. In the current fiscal year, FY20, the district is projecting a net positive cash flow gain. However, in the remaining years the district is deficit spending. The biggest cause would be very flat state funding. While the state allocated some new funds entitled Student Wellness and Success Funds, it was based on federal census poverty data. West Liberty-Salem school district is one of the lower poverty districts, thus the district is receiving $67,044 in new funding for FY20 and $95,629 in FY21. These funds must be used for services in these areas; mental health, homeless, community liaisons, physical health, mentoring, family engagement, professional development regarding trauma-informed care or cultural competence, before/after school programs including any time school is not in session (summer school). As required, the district will be working with local community partners to submit a plan to the state regarding the use of these funds. Other revenue changes would include a decrease in real estate tax revenue from FY20 to FY21 based on changes in CAUV. Per negotiated agreements, salary and fringes will continue to increase as appropriate. Increased health insurance cost is still a concern for the district. The rate increase for FY20 was 25%. West Liberty-Salem is a member of the Educational Purchasing Council which manages the health insurance plan. District administration is involved in the EPC health insurance committee. The district is also anticipating purchasing new curriculum materials in FY20 to enhance and support educational standards. The district would like to thank the community for renewing the income tax levy last spring. The students are very fortunate to live in such a supportive community.
Financial Management Recognized
In December 2018 West Liberty-Salem School District received notice that it has earned a bonus from Ohio Bureau of Workers Compensation for calendar year 2017 due to low claims/severity and the district met all requirements for the Safety Council Rebate Program. Great Job WL-S on keeping our employees safe!